US consumer prices up more than expected in Jan. | Report: US imports make solid gains in January | DXP Enterprises adds Md.-based pump and controls distributor
Consumer prices in the US rose more than expected in January, data from the Labor Department showed. The consumer price index was up 0.3% for the month to 3.1% on a 12-month basis. Economists were expecting an increase of 0.2% and an annual gain of 2.9%. Core CPI also accelerated 0.4% in January. Stock futures fell on the news, while the yield on 10-year Treasury notes rose to 4.297%.
Despite trade impediments at the Suez and Panama canals, January US imports were up 7.9% over December and 9.9% year-over-year for the month, which marks the most significant monthly gain for January since 2017, according to Descartes. Recent import growth rates that have been topping pre-pandemic levels may be stalled by disruptions at the major canals and a labor agreement between the International Longshoremen's Association and the United States Maritime Alliance that's set to expire in September, increasing port transit wait times and the threat of possible new COVID subvariants, says Descartes.
Houston-based DXP Enterprises has acquired Md.-based pump and control distributor Kappe Associates. The Kappe acquisition, DXP's second of the year, furthers its expansion into the water and wastewater markets. Financial terms of the deal were not disclosed.
Labor conditions and other factors contributed to lower small-business sentiment last month, according to a National Federation of Independent Business index, which dropped to 89.9 in January from 91.9 in December. The index reached its lowest point since May 2023.
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Distributors need to actively anticipate future disruptions by making their businesses more resilient now through measures that include combining virtual and traditional distribution methods, straightforward and instantaneous omnichannel interactions and investing in an ecommerce software system, writes James Mallory, senior product marketing manager for manufacturing and distribution at Acumatica. Other strategies include integrating workflows through business-management technologies, applying data analytics and diversifying by expanding both locally and globally, Mallory writes.
As supply chain cyberattacks rise, it's up to procurement professionals to gain visibility into their supply chain to find the dependencies and vulnerabilities that increase risk, writes Baber Farooq, SVP and head of market strategy for SAP Procurement Solutions. Consistent monitoring is important, but it's not enough: procurement teams should be conducting due diligence as they onboard suppliers, investing in technology that can help that process along, suggests Farooq.
Audio and live content increases LinkedIn posts' engagement 40% and posts with polls have 2.2 times the median reach, Richard van der Blom's annual Algorithm Insights study reveals. Personal storytelling, thought leadership and event content form the top three pillars of content strategy for the platform.
The Federal Reserve's rate increases used to slow consumer spending in the past, but now, despite the fastest rate hikes in 40 years, the economy has remained resilient. Consumers are still spending and the labor market added 353,000 jobs last month. Resilient growth has eased concerns over a recession and given the Fed time to delay rate cuts.
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